Compliance Clarified – a podcast by Thomson Reuters Regulatory Intelligence Season 5, Episode 8: Future regulatory change
Jul 5, 2022
50:28
In the eighth episode of season 5 of the Compliance Clarified podcast, Susannah Hammond is joined by Lindsey Rogerson, Todd Ehret and David Bickley (from Thomson Reuters Practical Law) to take a look at the future of financial services and the sheer breadth of the regulatory change agenda.
Compliance officers will be all too familiar with regulatory change – it is the gift that keeps on giving and regulatory change management is a core competency for all risk and compliance functions.
So what are the hotspot areas likely to need compliance attention in the coming months and years? Well as a short but dense list there is ESG, sanctions, the shift of the regulatory perimeter to capture more crypto marketplace activity, the focus on increasingly vulnerable customers as the cost of living crisis bites as well as shifting regulatory expectations when it comes to all aspects of operational resilience. And that is before considering the how of financial services regulation and the spectre of personal liability.
Links to content referenced in the discussion:
UK Treasury: Financial Services Future Regulatory Framework Review: Proposals for Reform
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1032075/FRF_Review_Consultation_2021_-_Final_.pdf
Queen's Speech 2022: background briefing notes
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1074113/Lobby_Pack_10_May_2022.pdf
European Parliament's economic and Monetary Affairs Committee's work in progress list
https://www.europarl.europa.eu/cmsdata/250180/ITER0002_EN_20220623.pdf
Brexit Opportunities Catalogue
https://public.tableau.com/app/profile/governmentreporting/viz/UKGovernment-RetainedEULawDashboard/Guidance
Regulatory Initiatives Grid https://www.fca.org.uk/publication/corporate/regulatory-intitiatives-grid-may-2022.pdf
Dear CEO letter to 3,500 lenders on improving customer outcomes
https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-rising-cost-of-living-acting-now-support-consumers.pdf
PRA Consultation Paper The Strong and Simple Framework: a definition of a Simpler-regime Firm (CP5/22)
https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/publication/2022/cp522.pdf
Bufferati - speech by Sam Woods
https://www.bankofengland.co.uk/speech/2022/april/sam-woods-speaking-at-city-week-2022-developments-in-prudential-regulation-in-the-uk
SEC Spring 2022 Regulatory Agenda
https://www.reginfo.gov/public/do/eAgendaMain?operation=OPERATION_GET_AGENCY_RULE_LIST¤tPub=true&agencyCode=&showStage=active&agencyCd=3235&csrf_token=ABBAA84824C29E01B566B0472A6E99E59C730916821A14613C79DE7F48AC8EAEF4CA3A7C929E9B10E667F119BAA4958D5293
The survey for the TRRI annual fintech, regtech and the role of compliance report – if you would like to take part in that please click the below link
https://reuters.az1.qualtrics.com/jfe/form/SV_9HckOjpJJTOp3EO
Further information on Thomson Reuters Regulatory Intelligence can be found at:
https://legal.thomsonreuters.com/en/products/regulatory-intelligence?elqTrackId=73370082102a4669b4d34524158b501c&elqaid=3945&elqat=2
Compliance officers will be all too familiar with regulatory change – it is the gift that keeps on giving and regulatory change management is a core competency for all risk and compliance functions.
So what are the hotspot areas likely to need compliance attention in the coming months and years? Well as a short but dense list there is ESG, sanctions, the shift of the regulatory perimeter to capture more crypto marketplace activity, the focus on increasingly vulnerable customers as the cost of living crisis bites as well as shifting regulatory expectations when it comes to all aspects of operational resilience. And that is before considering the how of financial services regulation and the spectre of personal liability.
Links to content referenced in the discussion:
UK Treasury: Financial Services Future Regulatory Framework Review: Proposals for Reform
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1032075/FRF_Review_Consultation_2021_-_Final_.pdf
Queen's Speech 2022: background briefing notes
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1074113/Lobby_Pack_10_May_2022.pdf
European Parliament's economic and Monetary Affairs Committee's work in progress list
https://www.europarl.europa.eu/cmsdata/250180/ITER0002_EN_20220623.pdf
Brexit Opportunities Catalogue
https://public.tableau.com/app/profile/governmentreporting/viz/UKGovernment-RetainedEULawDashboard/Guidance
Regulatory Initiatives Grid https://www.fca.org.uk/publication/corporate/regulatory-intitiatives-grid-may-2022.pdf
Dear CEO letter to 3,500 lenders on improving customer outcomes
https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-rising-cost-of-living-acting-now-support-consumers.pdf
PRA Consultation Paper The Strong and Simple Framework: a definition of a Simpler-regime Firm (CP5/22)
https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/publication/2022/cp522.pdf
Bufferati - speech by Sam Woods
https://www.bankofengland.co.uk/speech/2022/april/sam-woods-speaking-at-city-week-2022-developments-in-prudential-regulation-in-the-uk
SEC Spring 2022 Regulatory Agenda
https://www.reginfo.gov/public/do/eAgendaMain?operation=OPERATION_GET_AGENCY_RULE_LIST¤tPub=true&agencyCode=&showStage=active&agencyCd=3235&csrf_token=ABBAA84824C29E01B566B0472A6E99E59C730916821A14613C79DE7F48AC8EAEF4CA3A7C929E9B10E667F119BAA4958D5293
The survey for the TRRI annual fintech, regtech and the role of compliance report – if you would like to take part in that please click the below link
https://reuters.az1.qualtrics.com/jfe/form/SV_9HckOjpJJTOp3EO
Further information on Thomson Reuters Regulatory Intelligence can be found at:
https://legal.thomsonreuters.com/en/products/regulatory-intelligence?elqTrackId=73370082102a4669b4d34524158b501c&elqaid=3945&elqat=2